Comments on: Stock Market Falls to Support, Bounce Likely (video)

By: rsotc

rsotc — Thu, 06 Dec 2018 19:53:37 +0000

In reply to ajay. I'm catching up on notifications from replies & comments now, working my way back up from Tuesday & just came across yours. We did go on to gap down today but where I would be uncomfortable would be if I had a sizable long position in an ETF like QQQ that I was at risk for being caught on the wrong side of a big gap. I like to use futures in my trading account if trading the indexes since I can limit my losses with stop-loss orders that will fill virtually around the clock. If the futures start to slide in the overnight or very early morning hours, my stop would be filled & I wouldn't wake up to a possible 3%+ gap down on QQQ.

By: ajay

ajay — Tue, 04 Dec 2018 19:37:38 +0000

SPY 1H PPO also sharply down and 4H just crossed down. In the past, we’ve let these trades continue to run until 1H starts to turn and looks likely to cross up.

By: ajay

ajay — Tue, 04 Dec 2018 19:03:23 +0000

Hi Randy, I'm impressed you're able to remain cautiously optimistic in your near-term outlook. I'm trying to do the same and mange my own emotions and not race for the exits. I appreciate your balanced view, but it's hard not to feel like this is the start of the final waterfall flush we've been waiting for. We made a good attempt at piercing the 50D and 200D EMA, we failed that impulsively, and made a lower high in the process. We're now going to close below both EMAs with the markets closed tomorrow. We've got renewed concerns around trade deal, the inverted yield curve, death crosses imminent, and unemployment numbers Fri. How do you get comfortable that it's unlikely that we gap down Thursday and continue selling off all day Thurs/Fri?

By: rsotc

rsotc — Tue, 04 Dec 2018 18:48:30 +0000

QQQ went on to just kiss that 166.00 support level, with a low of 166.03 (close enough) which should mark the end of this drop with a rally from here. Anything more than that & I would have to think there is more to this drop than just a negative reaction to the latest trade war developments, maybe a fund imploding today so let's see if 166 holds.

By: nswenson520

nswenson520 — Tue, 04 Dec 2018 18:40:09 +0000

Well that long /NQ doesn’t appear to be working out. Stopped out at 6840. Sell off now?

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 04 Dec 2018 18:39:27 +0000

Good luck with that bounce!

By: Jay

Jay — Tue, 04 Dec 2018 18:11:42 +0000

In reply to RiverEast.

Market Analysis-Equity Market Analysis

https://rightsideofthechart.com/category/financial-markets-analysis/equity-market-analysis/

By: RiverEast

RiverEast — Tue, 04 Dec 2018 18:06:23 +0000

@rsotc
Randy, Would you tell me where is the video? I can not find it. Thank you!